Idea for some extra bucks

S

Salmank

Senior Member
Joined
Jun 27, 2016
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Location
Boksburg
Hi there,

Since we live a rather lavish life, I only manage to save R5000 every month.

Now, if I invest that R5000, I will only earn around 6-12% after a full year.

I was thinking maybe on a side line, I can use that R5000 and buy something and resell for for R6000. That's 20% profit in less than a month. And if I can sell higher, I can make more.

The benefit I have is that a relative has to travel to Zambia, Dubai and UK every month for business and he doesn't mind bringing things for me.

So what's something nice which I can buy and sell for easy profits?
 
Apple devices are always an easy sell.

But you are going to eventually hit a speed bump if the guy bringing your stock in isn't declaring the stuff at customs and paying duties, if Sars audits you they will ask for source documents incl duties paid and invoices.
 
Salmank said:
Since we live a rather lavish life, I only manage to save R5000 every month.
Click to expand...
Is it just me seeing a solution right there or is that not an option?
 
Salmank said:
Hi there,

Since we live a rather lavish life, I only manage to save R5000 every month.

Now, if I invest that R5000, I will only earn around 6-12% after a full year.

I was thinking maybe on a side line, I can use that R5000 and buy something and resell for for R6000. That's 20% profit in less than a month. And if I can sell higher, I can make more.

The benefit I have is that a relative has to travel to Zambia, Dubai and UK every month for business and he doesn't mind bringing things for me.

So what's something nice which I can buy and sell for easy profits?
Click to expand...

12% is on the low end. Invest better...
 
Ghoster79 said:
You poor soul, how do you live with yourself only saving this paltry amount of money every month?:erm:
Click to expand...

If it was not for tax, security etc, I would have been saving R20 000. But have to fund Ramaphosa's (the billionaire?) Lifestyle. So I only have R5000 after all these expenses.
 
Salmank said:
If it was not for tax, security etc, I would have been saving R20 000. But have to fund Ramaphosa's (the billionaire?) Lifestyle. So I only have R5000 after all these expenses.
Click to expand...

You are doing well enough to save R5k a month, most people would just be happy with that.If you want to introduce headaches into your life start a side business.What line of work are you in?
 
Batista said:
You are doing well enough to save R5k a month, most people would just be happy with that.If you want to introduce headaches into your life start a side business.What line of work are you in?
Click to expand...

Jewellery business
 
In my early years I used to go to auctions and sell on gumtree.
 
If you can offer a service like coding or accounting I’d use the cash to setup and grow a company on the side
 
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